The crash of the FTX exchange has injected greater urgency into regulating the crypto sector and targeting such ‘conglomerate’ platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview. Jean-Paul Servais said regulating crypto platforms could draw on principles from other sectors which handle conflicts of interest,… Continue reading Global regulators to target crypto platforms after FTX crash
Author: Deal Street Asia Online News
Evergrande creditors ask chairman for at least $2b fund infusion
Debt-laden developer China Evergrande Group has told offshore creditors that it plans to present a restructuring proposal as soon as the first week of December, Bloomberg News reported on Thursday. The proposal could include swapping debt for shares in the company’s Hong Kong-listed auto and property management units, the report said, citing unnamed sources. The group of creditors asked Chairman Hui Ka Yan to infuse… Continue reading Evergrande creditors ask chairman for at least $2b fund infusion
B2B marketplace Udaan raises up to $40m from EvolutionX Debt Capital
Business-to-business (B2B) marketplace Udaan, backed by investors such as Lightspeed India Partners and GGV Capital, has raised around $35-40 million in debt from growth-stage debt financing platform EvolutionX Debt Capital, a source familiar with the matter told DealStreetAsia. This comes a month after Udaan secured $120 million in convertible notes and debt, bringing the total… Continue reading B2B marketplace Udaan raises up to $40m from EvolutionX Debt Capital
Data Vantage: Entobel, NOVI Health, Doctor Anywhere & Oraan bag funding
Entobel, a company that produces animal feed, pet food, and fertilisers from black soldier fly larvae, received $15 million from Mekong Capital and Dragon Capital this week as part of its Series B funding round. The latest tranche comes less than six months after the company received $15 million from the two investors as part of… Continue reading Data Vantage: Entobel, NOVI Health, Doctor Anywhere & Oraan bag funding
Vietnamese EV startup Dat Bike secures $8m in round led by Jungle VenturesGSR Ventures and Delivery Hero Ventures also participated in the round
Vietnamese electric motorbike startup Dat Bike has secured $8 million in a new funding round led by Singapore-based Jungle Ventures, according to an announcement. GSR Ventures and Delivery Hero Ventures also participated in the round, along with Wavemaker Partners and Innoven Capital. This new funding round, which comes a few months after the startup bagged… Continue reading Vietnamese EV startup Dat Bike secures $8m in round led by Jungle VenturesGSR Ventures and Delivery Hero Ventures also participated in the round
IFC mulls $35m loan package to Bangladesh’s Tanveer Foods
International Finance Corporation (IFC), a member of the World Bank Group, is considering investing up to $35 million in equivalent loans to Tanveer Foods, an importer of food products in Bangladesh, according to a disclosure. IFC said the proposed investment includes an up to $21 million senior-secured A loan from IFC alongside an up to… Continue reading IFC mulls $35m loan package to Bangladesh’s Tanveer Foods
Cash-rich Bukalapak pursues selective strategy on investments to widen its ecosystem
Indonesia-listed all-commerce player Bukalapak has emerged as more than a marketplace platform since its $1.5-billion initial public offering in 2021 as it pursues strategic investments selectively to expand its ecosystem. At the same time, the cash-rich tech major is following a conservative spending strategy, according to analysts tracking the firm. In fact, some local and… Continue reading Cash-rich Bukalapak pursues selective strategy on investments to widen its ecosystem
Chinese EV startup WM Motor said to be slashing salaries as losses balloon
WM Motor Holdings Ltd. is cutting salaries by half for management and nearly a third for staff members, Caixin has learned, as the electric-vehicle (EV) startup struggles with sluggish sales and ballooning losses. The Shanghai-based automaker began the cost-control measures in October, also cancelling annual bonuses and vehicle purchases subsidies, the source said, citing a… Continue reading Chinese EV startup WM Motor said to be slashing salaries as losses balloon
China Digest: AR firm Thin Red Line snaps up $50m; Quantifeed buys ALPIMAThin Red Line has secured $50m in an angel round led by Meituan investment ar…
Thin Red Line has raised fresh funding while Hong Kong-based Quantifeed has acquired fintech firm ALPIMA. AR firm Thin Red Line snaps up $50m Augmented Reality (AR) firm Thin Red Line has secured $50 million in an angel round led by DragonBall Capital, the investment arm of Chinese consumer products and retail services giant Meituan.… Continue reading China Digest: AR firm Thin Red Line snaps up $50m; Quantifeed buys ALPIMAThin Red Line has secured $50m in an angel round led by Meituan investment ar…
Indonesia’s East Ventures launches startup programme amid layoff wave
Indonesian venture capital firm East Ventures has launched the fourth edition of its startup initiative, Indonesia PASTI BISA, called Maju Terus Pantang Mundur (Keep Moving Forward, Never Give Up), in response to the massive tech layoffs in the country recently, the firm said on Wednesday. East Ventures wants to create a platform to support individuals… Continue reading Indonesia’s East Ventures launches startup programme amid layoff wave